Socio-Economics Part I

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Session Type: Subsessions

Session Capacity: N/A

Location: Washington Marriott Wardman Park Hotel

Room: Washington 6

Floor: Exhibition Level

In the second year of the Trump administration, Congress enacted the Economic Growth, Regulatory Relief, and Consumer Protection Act. The act purports to improve consumer access to mortgage credit by removing regulatory requirements applicable to lenders. However, there is no explicit statutory condition that requires expanded consumer lending in exchange for eased regulatory requirements. The act also seeks to expand consumer access to credit through “regulatory relief” to financial services firms, primarily by easing capital requirements, restrictions on proprietary securities trading, and periodic call reports. In addition, the act raises asset thresholds for enhanced supervision and prudential standards applicable to “systemically important” bank holding companies and non-bank financial companies.